Peanut is best for frying, but it’s too damned expensive for me to use, and I have no problems with using a neutral oil like canola. I don’t bother with checking the temperature–I find that when canola just about starts to smoke (when you see little wisps of it coming off the oil), if I dump the wings then (taking them out of the fridge a half hour or so before frying), it drops the temperature of the oil down to about the right level for a perfectly crisp and well cooked wing. I use either a wok or a Dutch oven on the stovetop for this. Don’t overcrowd the pot, but if you take the oil to near smoking temps, you can fry a decent sized batch without dropping the temperature of the oil too much.
Another tip: dry your wings very thoroughly before frying. For best results, I dry them with paper towels the night before, and then leave them in the fridge in a single layer on a rack. This overnight rest in the fridge gets them even drier, ensuring a perfectly crisp skin.
ETA: In my opinion, there is no need to bread wings. Or, I should say, if you do bread the wings, they are no longer “Buffalo-style” wings in my mind. It infuriates me when I see a menu advertising “Buffalo wings,” and then I get something that’s breaded. That said, I have had decent hot wings that were breaded, but my preference is for a simple, crispy skin without any breading.